UGC Site Viddler Looking To Raise $1M in First Round of Financing
Viddler, another UGC site that launched at the end of last year is now out looking for its first round of financing between $1-2 million. Viddler classifies themselves as an interactive online video platform that allows people to enhance and share video inside of the browser.
I spoke to Viddler’s president Rob Sandie yesterday who gave me an update on their technology and business model. Of course, the first thing I had to ask was how they plan on making any money and how they are any different that all the other UGC sites out there. Rob explained that they want to be the Flickr of web video allowing users to upload long form content, provide the tools for them to be able to edit the video and then allow the user to be able to buy a DVD of their video. I don’t know if there is a large enough market for that but I don’t recall any other UGC sites trying to do this. Selling DVDs is not the only business model they are focusing on but rather taking the approach of creating revenue from advertising, subscriptions to their video platform and the DVDs.
On the investment subject, I hear from a lot of companies all the time who are actively looking to raise a round of financing, but then always tell me I can’t tell anyone they are looking? Usually they say they don’t want their competitors to know. How do you expect to raise the money if you don’t get word out in the community that you are looking? And so what if your competitors know, that should have no affect on your business.
Kudos to Rob for saying he wants to get the word and out wants everyone to know that they are looking for financing. I’m happy to let any company looking for money to use my blog to get the word out. That’s the whole point of a blog, networking with your peers.